Wow. That whole “Bankruptcy one option of many” thing lasted about, what, three whole hours?
Updates to come. The situation is fluid.
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Wow. That whole “Bankruptcy one option of many” thing lasted about, what, three whole hours?
Updates to come. The situation is fluid.
You can log in with your account or comment as a guest below.
pump the brakes
Good idea, the Delphi thing was a major success
This all seems a lot like Germany in 1938
I’m considering splitting myself into an employed/unemployed structure, whereby my employed self will be able to move into the workforce and become productive again, while my legacy self will continue to languish and be wound down.
Seriously, since when did the car companies have a good component?
@4 lmao
“Hey, we have this plan and we want to use it, now we didn’t get to use it for the banks so, how about using it with these car companies?
It wouldn’t be a half bad idea, if (as 4 noted) there was a good component.
I’m not really sure what will happen to the bad part though. That has to have all of the legacy union contracts and manufacturing facilities… the taxpayer is just going to get stuck with the unions? yay!
“My man-step is definitely going into the good bank.”
/Howie Long
@7 so they’d fit in as government employees. and maybe they could take over dmv operations.
GM…a pension liability posing as an automaker.
GM is a pension liability posing as an automaker.
>>>>The situation is fluid.
Was that a euphemism for under water?
And I am a double poster, posing as a single poster. Sorry.
@9,10, 13 AND using a one-liner whose clever fresh date has expired.
@4: Post of the day!
The “good” part, they’ll say, is the U.S. manufacturing. They’ll hive off Europe and the pension liabilities. The problem is – who is going to fund those liabilities? (*cough* PBGC *cough*) Last I saw, their OPEB alone was $95 billion.
@12- No.
If the situation isn’t fluid then I don’t give a fuck. Thanks EP. Any word on a possible silver bullet; we really need one.
@3- Das is good.
linky?
@18- Everyone link in Soviet Russia.
@9- Take over DMV operation you say. Your a racist! Everyone knows the SPF 500r’s are untouchable against ultra wight.
@17: Das ist gut, dummkopf.
Rick Wagoner should file for unemployment asap!
I’m starting to get a bit upset when I see so many people making blanket statements like “there’s no good part of [domestic automaker].” While there certainly is plenty of crap, there is some good stuff as well. I’d go into the details, but I’m fairly certain this is a) not the forum, and b) they’d be lost on most of the aforementioned crowd regardless.
Sigh…
@Anal_yst There’s a bunch of good people there, who’ve been hampered by legacy deals and culture. Most of the bright parts in the lineup are politically verboten as gas guzzlers/fun to drive/useful for a family.
Far better to start over with a whole new company than try to resurrect that zombie. Use Jet Blue/Porter/South West/WestJet as models instead of the AA/United perpetual bailout model. A new firm can fix ALL of the problems and only hire the best and most motivated people without the personnel issues of a rescue. They’d also be able to get out of Detroit for better climate, schools, right-to-work, low taxes…
Cars 2.0 should be based in Texas/Arizona/Nevada/New Mexico… Austin would probably be a good bet for an HQ. Tesla is interesting, but California is a hellishly unfriendly climate for business and circling the drain like Michigan 20 years ago.
@3 This is more like Italy 1922.
Respectfully Yours,
His Excellency Benito Mussolini, Head of Government, Duce of Fascism, and Founder of the Empire